Laredo Petroleum Inc (NYSE:LPI) – Stock analysts at Piper Jaffray Companies lowered their Q1 2019 earnings estimates for Laredo Petroleum in a report issued on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.19. Piper Jaffray Companies currently has a “Neutral” rating on the stock. Piper Jaffray Companies also issued estimates for Laredo Petroleum’s Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.24 EPS, Q1 2020 earnings at $0.10 EPS, Q2 2020 earnings at $0.07 EPS, Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.09 EPS and FY2020 earnings at $0.30 EPS.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $279.70 million for the quarter, compared to the consensus estimate of $276.95 million. Laredo Petroleum had a return on equity of 24.30% and a net margin of 51.61%. The business’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share.
Several other equities research analysts have also weighed in on the company. Capital One Financial lowered Laredo Petroleum from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Robert W. Baird reduced their price objective on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating for the company in a research note on Friday, January 4th. Credit Suisse Group lowered Laredo Petroleum from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 19th. MKM Partners started coverage on Laredo Petroleum in a research note on Wednesday, December 5th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Williams Capital set a $6.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a research note on Wednesday, December 12th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.80.
LPI opened at $4.01 on Friday. The firm has a market cap of $979.97 million, a PE ratio of 6.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.73 and a quick ratio of 0.73. Laredo Petroleum has a fifty-two week low of $3.00 and a fifty-two week high of $11.68.
Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its position in shares of Laredo Petroleum by 354.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,279 shares of the oil and gas producer’s stock worth $102,000 after buying an additional 9,579 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Laredo Petroleum in the third quarter worth $117,000. First Hawaiian Bank acquired a new stake in shares of Laredo Petroleum in the third quarter worth $120,000. Schneider Capital Management Corp acquired a new stake in shares of Laredo Petroleum in the third quarter worth $123,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Laredo Petroleum in the second quarter worth $155,000.
About Laredo Petroleum
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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